The GDM 2010 Initiative was established with the aim to achieve a significant level of support by COP10 for the idea of a Green Development Mechanism (GDM) and to undertake consultations on how such a mechanism might be shaped. GDM is the working title for a proposed innovative financial mechanism that would help to fill the biodiversity funding gap by mobilising private financing to mitigate biodiversity loss, much as the well-known Clean Development Mechanism (CDM) has done to mitigate climate change. It could create enabling conditions for increased business and private sector support for the implementation of the CBD, particularly in developing countries. Like the CDM, a GDM will likely need to establish a standard-setting and certification process to enable a market-based approach for generating new financial resources.